Sale Pending, Is it Sold?

Pending Sign

 Does a Pending Sign mean that a home has SOLD?

"Sale Pending" does not mean a home is SOLD?
It does mean that a deal has been struck and the Buyer and Seller are in the process of moving toward closing. The Buyer will be adhering to a time table to perform his due dilligence and if a financial supplemental is attached to the contract the Buyer will be working with a lender to procure the funds to close. The Buyer has an equitable interest in the property and therefore has certain rights as specified in the contract. The Seller will also have obligations relating to insuring the title is clear and delivering the house to the buyer in the condition agreed to in the contract. Sometimes, whether in the Buyers due dilligence period or as the Buyer attempts to obtain financing, or for some other reason, Sellers and Buyers find out the the contract cannot be consumated as agreed. When this happens the home might be offered for sale once again. If you are interested in a home with a pending sign ask your representative to inquire about the status of the contract and how strong the offer is and what are the chances of a closing taking place. Kensellshomes@aol.com                                                                    KenSellsHomes                                                                                   918-260-9932